Owning a small business in Cincinnati is a great decision! We enjoy a consistent growing economy while maintaining a relatively low cost of living. This stable business environment enables startups to focus on their mission, customers, and workers.
Did you know that in the U.S. nearly 1 in 5 business startups fail within the first year, and about 50% after five years? But Cincinnati’s rate of success for startups after 5 years is a remarkable 74%. Some of that success comes from the meteoric rise of tech and medical startups in the Queen City, as well as the Cincinnati business culture coupled with a commitment to venture development firms like CincyTech.
In 2022, Ohio’s minimum wage rose $.50/hour to $9.30 (the federal minimum wage is $7.25). The District of Columbia tops the list at $15.20 while Wyoming takes the bottom slot at $5.15.
Only 18 states have a lower rate than Ohio. See the chart »
Local colleges and universities contribute by turning out well-educated potential employees who choose to stay in Cincinnati because of its family-friendly neighborhoods, outstanding schools, parks and cultural amenities, food and dining, major sports teams, and down-home midwestern values.
Small businesses contribute by supporting other small businesses with similar dreams, values, and goals.
If you are a loyal customer of DLMoney Matters, thank you! If you are still on the fence about whether to offload the anxiety, fears, and burdens of the time you spend on financial, tax, and accounting matters, get to know us. And please, refer us to your friends.